SAC Readying Family Office Plans

May 28 2013 | 3:03pm ET

SAC Capital Advisors is preparing plans to become a family office amidst word that a fifth executive at the hedge fund has been subpoenaed to appear before the grand jury considering criminal insider-trading charges against the firm.

Stamford, Conn.-based SAC is creating a plan to return outside capital. Sources tell the network that an announcement that SAC will become a family office, managing only founder Steven Cohen's fortune, will come within weeks.


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